What Can Sink This Market?
S&P 500 continued clearly grinding higher for third day in a row, not really suffering any meaningful setback. Does the turn lower at the closing bell count? Does some more tech weakness count? Does the rising wedge count? Answering these questions is the subject of Saturday‘s extensive video – USD upswing while more than partially rejected Friday, provides as many clues as the bond market does.
Check out the video bringing you bond market, sectoral and volatility breakdown – we have a data rich week ahead, with Wednesday being the first day when relatively smooth cruising is to meet some turbulence. Friday‘s jobs report holds the key, and before that we‘re likely to be treated to some positive EU / China tariff news.
We were, the EU deal reached is very favorable to the USA (lifting USD without corresponding rise in yields). Hence, Sunday‘s bullish S&P 500 gap that‘s being accompanied by fresh momentum and now retracement premarket, is about to provide another fresh long opportunity.
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